Mortgage Memo: Funds for Closing

May 18, 2016

  We have to document money in a checking, savings, or investment cash account(s) equal to or in excess of the money you need to close.  Please don’t move money around.  All we need to see is that you have the funds to close.   Bank Statement:  This document shows 30 days of transactions and…

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Mortgage UPDATE

January 5, 2016

Taylor Ortiz’s Mortgage Memo Today’s Topic: Amortize: reduce or extinguish (a debt) by money regularly put aside.            The new year is very often a time to review one’s financials so there is no better time to re-visit how a loan behaves.  The basics – Let’s use a $100,000 loan at 5% interest. One month’s…

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